On Monday, Telefonica Brasil revealed in a securities filing that its subsidiary, TCloud, has agreed to acquire cloud service providers IPNET and IPNET USA for up to 230 million reais ($41.29 million).
The final value of the deal is subject to achieving specific financial and operational benchmarks. This acquisition is set to enhance TCloud’s service portfolio and strengthen its professional and managed services, facilitating faster growth and expansion.
In the previous year, IPNET reported a net revenue of 218 million reais.
The acquisition is still awaiting approval from Brazil’s antitrust regulatory body.
